Emergence Capital has officially closed its seventh fund, securing a massive $1 billion to invest in promising B2B startups. This marks the firm’s first fundraising effort in nearly four years, underscoring its renewed focus on backing the next wave of enterprise software and AI-driven companies.
Based in San Mateo, California, Emergence Capital has long been known for its expertise in enterprise technology. Back in May 2021, the venture capital firm raised nearly $1 billion across two separate funds. This included $575 million dedicated to its sixth early-stage fund and, for the first time, an additional $375 million opportunity fund aimed at supporting its most successful portfolio companies during later growth stages.
Founded in 2003, Emergence Capital has built a reputation for betting early on some of the most successful SaaS players. Its portfolio boasts household names like Salesforce, Zoom, Gusto, Bill.com, and Box—companies that have become pillars in the enterprise software ecosystem.
Now, like many top venture firms, Emergence is shifting significant attention toward artificial intelligence. General Partner Joe Floyd described AI as a “generational opportunity,” emphasizing that the firm is ready to double down on this booming sector.
“AI represents a once-in-a-generation moment for venture investing. We’re excited to find and support founders building the future of AI-powered B2B solutions,” Floyd shared with Fortune.
Stanford University has been a longtime backer of Emergence Capital, supporting the firm since 2007. Rob Wallace, CEO of Stanford Management Company, highlighted Emergence’s sharp investment strategy, saying, “They’re careful investors with deep expertise in SaaS and software, which makes them a strong partner for long-term success.”
With this new $1 billion fund, Emergence Capital aims to strengthen its position as a go-to investor for early-stage B2B startups—especially those leveraging AI to reshape the enterprise software landscape.
